Regulatory Alerts2017-01-19 | DOF 5469349Added
Guidelines for Preparing the Audit Report to Evaluate Compliance with General Provisions on Prevention of Illicit Resource Operations and Terrorist Financing
The Mexican Banking and Securities Commission establishes mandatory minimum procedures and requirements for obligated entities, including banks, exchange houses, and investment societies, to prepare and submit an annual audit report verifying compliance with anti-money laundering and counter-terrorist financing regulations. The guidelines define specific qualifications for auditors, require the use of a standardized electronic questionnaire, and mandate detailed evaluation of customer identification policies, risk profiling, transaction monitoring systems, and corrective action plans within the report.
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